In re the Election of Directors of Cape May & Delaware Bay Navigation Co.
Supreme Court of New Jersey
On application to set aside an election of directors. The Cape May and Delaware Bay Navigation Company is a corporation of this state. At an election for directors held May 28th, 1888, two tickets were voted, one of which will be called the Wyckoff ticket, the other the Edmunds ticket. Eighteen hundred shares of the capital stock of the company had been issued and were outstanding.
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On application to set aside an election of directors. The Cape May and Delaware Bay Navigation Company is a corporation of this state. At an election for directors held May 28th, 1888, two tickets were voted, one of which will be called the Wyckoff ticket, the other the Edmunds ticket. Eighteen hundred shares of the capital stock of the company had been issued and were outstanding. Of this stock one hundred and fifty shares were standing on the company’s books in the name of Jonathan Cone. Cone died in Philadelphia on the 11th of October, 1887, leaving a will appointing Rebecca C. Cone and…
1Opinion of the Court
The opinion of the court was delivered by
Depue, J.
The Cone stock had not been transferred to the executors on the company’s books. It stood there in the testator’s name. The inspectors of the election certify that for that reason they rejected the vote on that stock.
A corporation organized for the purpose of trade or business is an artificial person with perpetual succession, in which is vested the title to property real or personal, the affairs and business of which are managed and transacted by officers as trustees for the stockholders. The incidents of the ownership of shares of stock are…
2Cases cited7 opinions
- Noonan v. BradleySupreme Court of the United States · 1870
- Wilkins v. EllettSupreme Court of the United States · 1870
- Petersen v. . Chemical BankNew York Court of Appeals · 1865
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- Harper v. ButlerSupreme Court of the United States · 1829
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3Cited by6 opinions
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- Union Trust Co. v. Pacific Telephone & Telegraph Co.California Court of Appeal · 1916
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